HAVERHILL, Mass. — Members of the $97 million Northeast Community Credit Union have approved the merger between their credit union and a local community bank.
Northeast Community, chartered in 1934, will merge with Haverhill Bank, which calls itself the oldest mutual or cooperative bank in the Commonwealth of Massachusetts.
Under the terms of the merger, Haverhill Bank President Thomas R. Faulkner will serve as chairman and chief executive officer and Northeast Community CEO Peter L. Di Benedetto will serve as president and chief operating officer. No layoffs are proposed, and all branches will remain open after the merger, both institutions have said.
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